Alerts & Updates 17th Jul 2023

SEBI Guidance on Disclosure Norms For Listed Entities | ESG – BRSR Core And Value Chains Disclosures

Authors

Manendra Singh Partner | Mumbai
Tanvi Goyal Principal Associate | Mumbai
Aditi Ladha Associate | Mumbai

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In light of the SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 notified on June 14, 2023, SEBI has issued circulars in respect of the following:

Disclosure of material events / information by listed entities under Regulations 30 and 30A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”): SEBI has issued a circular in respect of the continuous disclosure obligations under the LODR Regulations with the objective of enforcing stricter timelines for disclosure of material events and to provide further clarity on details and specifications that listed entities are required to provide when making disclosures to stock exchanges. SEBI has also provided further guidance on when an event / information can be said to have occurred, and clarity on the criteria for determination of materiality of events / information.
BRSR Core: SEBI has provided formats for the (i) updated Business Responsibility and Sustainability Report (“BRSR”) with the addition of new key performance indicators, and (ii) BRSR Core comprising of certain Environmental, Social and Governance (“ESG”) attributes to ensure assurance to stakeholders. Further, listed entities will also be required to make ESG disclosures in respect of its value chain in its annual report.

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